The partnership of x and y shares profits and losses in the ratio of 60 percent to x and 40 percent to y. for the year 20x8, partnership net income was double x's withdrawals. assume x's beginning capital balance was $80,000, and ending capital balance (after closing) was $140,000. partnership net income for the year was:
a. $120,000.
b. $300,000.
c. $500,000.
d. $600,000.

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John has served as the chief operating officer (coo) for business graphics, inc., a publicly owned firm, the past 5 years. which of the following statements about john is correct? both john and the ceo of business graphics must certify to the sec that the firm's financial statements are accurate. as the coo, john will be ranked higher than the ceo but still below the cfo. in john's postition as the coo, it is highly unlikely that he would also be the chairperson of the board of directors. as the coo, john would typically be involved with accounting, finance, and asset purchase decisions.